Now Reading
Three Little Bears
316

Three Little Bears

Three Little Bears

by The MoleJuly 9, 2009

Bottom line: The trend is down – only question right now is whether or not we’ll get a significant bounce tomorrow and maybe the day after:

Orange: A.k.a. the ‘lazy bear’ – we don’t bounce and slowly melt down towards 810-800 over the coming days – only minor retracements anticipated.

Blue: A.k.a. the ‘cruel mistress’ – we paint one last head fake [i.e. Minute {ii}] after which we drop into free fall mode – dead cat bounce possible around 840 but we should land and complete around 800.

Green: A.k.a. the ‘rapid bear’ – we keep subdividing into a smaller Minute {ii} bounce, but fail to reach 900. This would be in line with a possible Primary {3} scenario – the implication of which would be that we rapidly descend to the downside and eventually past 800. Of course it’s possible that we follow this path and it’s a variation on Blue but after some consideration I decided to assign it to our most bearish count.

There you have it – your three bears 🙂

I have more charts tomorrow – the TNX looks very interesting right now. Have to turn in though – see you tomorrow morning.

Cheers,

Mole

Sign up here to receive my FREE early morning briefing:

About The Author
The Mole
Mole created Evil Speculator amidst the chaos of the financial crisis in early August of 2008. His vision for Evil Speculator is a refuge of reason, hands-on trading knowledge, and inspiration for traders of all ages and stripes. You can follow him and his nefarious schemes at the usual social media waterholes.
Enjoyed this post? Consider a small donation to keep those evil deeds coming!

BTC: 1MwMJifeBU3YziDoLLu8S54Vg4cbnJxvpL
BCH: qqxflhnr0jcfj4nejw75klmpcsfsp68exukcr0a29e
ETH: 0x9D0824b9553346df7EFB6B76DBAd1E2763bE6Ef1
LTC: LUuoD6sDWgbqSgnpo5hceYPnTD9MAvxi6c
PayPal: https://paypal.me/evilspeculator